The end of the year 2020 is just about six weeks away but in this small window of time, we all can do something to prepare for the next year. Let’s make it count.
Many companies including the company that I run, Italpinas, have reviewed this current year to be able to set up measures to prepare for the unpredictability of the next months. It may be the tail end of the pandemic, as some experts have noted that things seem to have been slowly picking up at the start of Q4.
Most organizations had to downsize or struggle through the transition to remote work. In our case, we capitalized on advantages as much as possible to respond well to the challenges of the COVID-19 pandemic. Among these advantages were geographic diversification, and focus on solid product fundamentals. As such, IDC fortunately had no material negative impact on sales reservations, and in fact even had to beef up its staff.
The pandemic, which is no doubt the biggest calamity to hit the world not just this year but in quite a number of years, mostly affected the commercial property sector as far as the local real estate industry is concerned. This includes the malls, offices, hotels, resorts, and so on. Opportunity lies in the fact that COVID-19 actually highlighted both the strengths and weaknesses of the property sector, which again opens the possibility of implementing changes for the better.
For us this means strengthening and streamlining further the systems in place for back office operations, logistics, tech, and IT. We worked very hard on it this year and I see the structures continuing well into 2021 and the years after that.
Although it is important to keep hopes up and to expect that the future will be bright, it doesn’t mean that we should pass up on planning for unforeseen events. The wise thing to be is flexible and to have enough resources to be able to cope with whatever comes up, positive or negative.
2020 also taught us not to be complacent or fall into the trap of thinking that things will always be okay just because they are okay now. We’ve seen that trends can change quickly and that the economy, in general, is subject to cyclical events that are mainly related to the worldwide (and local) financial situation.
I can’t emphasize enough the importance of alertness, of looking back to history, and of keeping oneself informed about projections and present movements within the economy.
Whenever trends are positive for too long, sometimes we forget that it will not always be like that. All things must pass, sang George Harrison. This forgetting is a tendency that happens unconsciously. We must resist it as we make our plans and move towards a new, and hopefully better year.
About Architect Romolo Nati
Romolo Valentino Benedetto Nati known as Romolo Nati or RVN, is a multi-awarded Italian architect and businessman with interest in sustainable development (energy and real estate). He is the current Executive Chairman and CEO of Italpinas Development Corporation (IDC), an Italian-Filipino real estate development firm that specializes in the design and development of sustainable buildings. He is also the Vice Chairman of the Philippine renewable energy company Constellation Energy Corporation (CEC) that focuses in acquiring, financing and developing small to medium-scale renewable energy projects across the Philippines. Follow Architect Nati on Facebook, Twitter and LinkedIn.